A gauge of the dollar’s strength fell to a three-month low before a US inflation report which may reinforce bets that the Federal Reserve is nearing the end of its tightening campaign. The Bloomberg Dollar Spot Index fell as much as 0.3% to the weakest since April 14 on Wednesday. Economists expect the June figures to show consumer-price growth decelerated on an annual basis, with the headline print likely to have fallen to the lowest since March 2021. “Expectations of the Fed reaching the end of its rate-hiking cycle and further cooling of US CPI will likely reinforce bearish dollar bets,” said Ken Cheung, ... (full story)